HomeMy WebLinkAbout06-14-01-11.06 - Resolution - 06/14/2001RESOLUTION AUTHORIZING PUBLICATION OF NOTICE OF INTENTION TO
ISSUE CERTIFICATES OF OBLIGATION
Resolution Number: 06-14-2001-11.06
WHEREAS, the City Council (the "City Council") of the City of College Station, Texas
(the "City"), finds that the purchase and installation of a communications fiber loop linking City
government buildings throughout the City; development of a portion of Veterans Park; public
safety computer hardware, software and related systems; other computer software and hardware;
2nd Street Project pedestrian and plaza improvements located on Second Street between Church,
Louise and Cherry Streets; business park improvements located at the Business Center at
College Station; neighborhood capital projects, all within the City; and the payment of
contractual obligations for professional services in connection therewith (to wit: architectural,
engineering, financial advisory, and legal) and debt issuance costs would be beneficial to the
inhabitants of the City and such property is needed to perform essential governmental functions,
and the City Council has determined that certificates of obligation (the "Certificates of
Obligation") should be issued pursuant to the applicable laws of the State of Texas, including
Chapter 271, Texas Local Government Code, for such purposes;
WHEREAS, prior to the issuance of the Certificates of Obligation, the City Council is
required to publish notice of its intention to issue the Certificates of Obligation in a newspaper of
general circulation in the City, the notice stating (i) the time and place the City Council
tentatively proposes to pass the ordinance authorizing the issuance of the Certificates of
Obligation, (ii) the maximum amount of Certificates of Obligation proposed to be issued, (iii)
the purposes for which the Certificates of Obligation are to be issued, and (iv) the manner in
which the City Council proposes to pay the Certificates of Obligation;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEGE STATION, TEXAS, THAT:
SECTION 1. Attached hereto and marked "Exhibit A" is a form of notice, the form and
substance of which are hereby adopted and approved.
SECTION 2. The Mayor or the City Secretary shall cause the notice to be published in
substantially the form attached hereto, in a newspaper, as defined in Section 2051.044, Texas
Government Code, of general circulation in the City for two consecutive weeks, the date of first
publication to be at least 14 days prior to the date tentatively set for the ordinance authorizing the
issuance of the Certificates of Obligation.
SECTION 3. The Mayor and the City Secretary are hereby authorized and directed to
execute the Certificate to which this Resolution is attached on behalf of the City Council and to
do any or all things proper and necessary to carry out the intent thereof.
PASSED AND APPROVED THIS 14TM DAY OF JUNE 2001.
APPROVED:
L~nn l~I'lhaney, Mayor ~r
ATTEST:
C~i~nie Hooks, City Secretary
EXHIBIT A
NOTICE OF INTENTION TO ISSUE CERTIFICATES OF OBLIGATION
NOTICE is hereby given that it is the intention of the City Council (the "City Council")
of the City of College Station, Texas (the "City") to adopt an Ordinance providing for the
issuance of interest-bearing obligations of the City presently contemplated to be designated and
known as the "CITY OF COLLEGE STATION, TEXAS CERTIFICATES OF OBLIGATION,
SERIES 2001" (the "Certificates of Obligation") for the purpose of providing financing for
purchase and installation of a communications fiber loop linking City government buildings
throughout the City; development of a portion of Veterans Park; public safety computer
hardware, software and related systems; other computer software and hardware; 2"a Street
Project pedestrian and plaza improvements, located on Second Street between Church, Louise
and Cherry Streets; business park improvements, located at the Business Center at College
Station; neighborhood capital projects, all within the City; and the payment of contractual
obligations for professional services in connection therewith (to-wit: architectural, engineering,
financial advisory, and legal) and debt issuance costs. The City Council tentatively proposes to
authorize the issuance of the Certificates of Obligation at its regular meeting place in the City
Hall, College Station, Texas, at a meeting of the City Council to be commenced at 7:00 p.m., on
the 12th day of July, 2001, in an amount expected not to exceed $3,650,000. The City Council
proposes to provide for payment of the Certificates of Obligation from a pledge of (i) an annual
ad valorem tax and (ii) surplus revenues of the city's electric, waterworks and sewer systems, not
to exceed $1,000.
Mayor,/l~'ity of College Staii°not~exas